If this is your first visit, you will have to register before you can post. To view messages, please scroll below and select the forum that you would like to visits. Questions? Be sure to check out the Forum FAQ.

Trail Stop with a Profit Target

08-21-2018, 06:38 PM

I'd like to have a trailing stop-loss that trails at one tick worse than one candle previous. At the same time I want to have a profit target set. So as the trade progresses, the trail gets closer to the target and it either hits the target or the trail.

To accomplish this I have a SetProfitTarget in the OnStateChange() under State == State.DataLoaded. I'm not sure why it's there but I saw that's where the Strategy Builder places it.

Down in the code after processing the conditions I have EnterLong(Convert.ToInt32(DefaultQuantity), "") and I also have an if statement that on each tick it will try to ExitLongStopMarket.

Either I can have the EnterLong (that uses a static SetStopLoss and a static SetProfitTarget) or the ExitLongStopMarket with no Profit Target at all. I can't have SetProfitTarget and ExitLongStopMarket together. Not sure why this is.

How can I achieve my objective? of having a trailing stop with a profit target?

The reason that you cannot use both profit target and ExitLongStop relates to the managed approach rules that are to reduce unwanted position. You can review the internal order handling rules here: https://ninjatrader.com/support/help...d_approach.htm Please note that this would be the case using the strategy builder or working directly in Ninjascript.

As you have observed, in the strategy builder, the SetProfitTarget (and either SetStopLoss or SetTrailingStop) would be set and fixed in State.Configure meaning that when the strategy is run these would not change. IE: with a 10 tick profit and a 10 tick trailing stop, every entry would automatically have a 10 tick stop and a 10 tick trailing stop.
The SetTrailStop() will automatically trail price as it movies into profit, for each tick increase in profit the stop will move that many ticks closer to current price to keep a 10 tick distance.

To accomplish your goal of, "I'd like to have a trailing stop-loss that trails at one tick worse than one candle previous. At the same time I want to have a profit target set. So as the trade progresses, the trail gets closer to the target and it either hits the target or the trail.", you would need to unlock your strategy and work directly in Ninjascript (which is based on C# programming language). Then you would be able to use SetStopLoss() in the OnBarUpdate() meaning you can dynamically change the stop loss value at any time so you can create the code to move the stop loss according to your needs. This then allows you to have an OCO tied profit target and your version of a trailing stop.

Futures, foreign currency and options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. View Full Risk Disclosure.

CFTC Rules 4.41 - Hypothetical or Simulated performance results have certain limitations, unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

This website is hosted and operated by NinjaTrader, LLC (“NT”), a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform. NT is an affiliated company to NinjaTrader Brokerage (“NTB”), which is a NFA registered introducing broker (NFA #0339976) providing brokerage services to traders of futures and foreign exchange products. This website is intended for educational and informational purposes only and should not be viewed as a solicitation or recommendation of any product, service or trading strategy. No offer or solicitation to buy or sell securities, securities derivative or futures products of any kind, or any type of trading or investment advice, recommendation or strategy, is made, given, or in any manner endorsed by any NT affiliate and the information made available on this Web site is not an offer or solicitation of any kind. Specific questions related to a brokerage account should be sent to your broker directly. The content and opinions expressed on this website are those of the authors and do not necessarily reflect the official policy or position of NT or any of its affiliates.

Vendors along with their websites, products and services, collectively referred to as (“Vendor Content”), are independent persons or companies that are in no manner affiliated with NT or any if its affiliates. NT or any of its affiliates are not responsible for, do not approve, recommend or endorse any Vendor Content referenced on this website and it’s your sole responsibility to evaluate Vendor Content. Please be aware that any performance information provided by a vendor should be considered hypothetical and must contain the disclosures required by NFA Rule 2-29(c). If you are interested in learning more about, or investigating the quality of, any such Vendor Content you must contact the vendor, provider or seller of such Vendor Content. No person employed by, or associated with, NT or any of its affiliates is authorized to provide any information about any such Vendor Content.